Jim Cramer's stock calls: GW Pharma, ConAgra Foods

CNBC's Jim Cramer on Wednesday gave his call on two stocks: GW Pharmaceuticals and ConAgra Foods.

To start, Cramer flagged drug-maker GW Pharmaceuticals, which saw shares spike after it recently announced plans to sell 1.7 million shares in a secondary offering. He thinks investors should take advantage of the secondary, and buy the stock.

"This is the only really legitimate marijuana stock out there. It's a British company. It's doing very well," Cramer said on "Squawk on the Street."

The biopharmaceutical company grows cannabis under license at a secret location in Britain to make an array of experimental cannabis drugs.

The food company reported a "horrible quarter," including poor performance of private brands and a drop in consumer volume, putting a bad taste in Cramer's mouth. Chef Boyardee, one of its flagship canned food products, did particularly poorly, Cramer said.